As I said in my reply to Dave Orr above, I now suspect that my opinion on the goodness or badness here is probably dominated by the net effect on the deadweight loss of time. (I’m not sure how much I think this should be weighted by the economic and/or social value of each person’s time.)
So my main questions now are (1) what is the net effect, and (2) what would the net effect be, if people were more rational about how much they value their time? (I’m also not sure how much the answer to (2) would change my view.)
It sounds like you think the answer to (1) is positive?
Sure, it might not be textbook rent-seeking, but it’s pretty close.
One important difference from classic pro-price-gouging arguments here, that I didn’t really crystallise until now, is that the scalpers aren’t really doing anything (AFAIK) to increase supply. So we lack the cutting-down-logs-with-chainsaws angle.
As I said in my reply to Dave Orr above, I now suspect that my opinion on the goodness or badness here is probably dominated by the net effect on the deadweight loss of time. (I’m not sure how much I think this should be weighted by the economic and/or social value of each person’s time.)
So my main questions now are (1) what is the net effect, and (2) what would the net effect be, if people were more rational about how much they value their time? (I’m also not sure how much the answer to (2) would change my view.)
It sounds like you think the answer to (1) is positive?
One important difference from classic pro-price-gouging arguments here, that I didn’t really crystallise until now, is that the scalpers aren’t really doing anything (AFAIK) to increase supply. So we lack the cutting-down-logs-with-chainsaws angle.